992 Shares in Principal Financial Group, Inc. $PFG Acquired by RMG Wealth Management LLC

RMG Wealth Management LLC purchased a new position in shares of Principal Financial Group, Inc. (NYSE:PFG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 992 shares of the company’s stock, valued at approximately $80,000.

Other large investors have also made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Principal Financial Group during the 2nd quarter worth approximately $25,000. American National Bank & Trust acquired a new stake in shares of Principal Financial Group during the 2nd quarter worth approximately $28,000. von Borstel & Associates Inc. acquired a new stake in shares of Principal Financial Group during the 1st quarter worth approximately $32,000. Zions Bancorporation National Association UT acquired a new stake in shares of Principal Financial Group during the 1st quarter worth approximately $34,000. Finally, GKV Capital Management Co. Inc. acquired a new stake in shares of Principal Financial Group during the 1st quarter worth approximately $45,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Principal Financial Group from $73.00 to $72.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 30th. UBS Group increased their price target on shares of Principal Financial Group from $85.00 to $87.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. Morgan Stanley increased their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research note on Monday, August 18th. Keefe, Bruyette & Woods dropped their price objective on shares of Principal Financial Group from $90.00 to $88.00 and set a “market perform” rating for the company in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Principal Financial Group from $92.00 to $101.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Principal Financial Group currently has an average rating of “Reduce” and a consensus target price of $86.90.

Principal Financial Group Price Performance

Shares of NYSE:PFG opened at $84.18 on Tuesday. The firm has a market cap of $18.75 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 0.76 and a beta of 1.03. The firm’s fifty day moving average is $80.03 and its 200-day moving average is $78.69. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.97.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Monday, July 28th. The company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.19. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter last year, the firm earned $1.63 EPS. Sell-side analysts predict that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Thursday, September 4th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.76. The ex-dividend date was Thursday, September 4th. Principal Financial Group’s dividend payout ratio (DPR) is presently 62.78%.

Principal Financial Group Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.